Witryna23 mar 2024 · Rs. 9 lakhs and Rs. 12 lakhs: 15% tax. Rs. 12 lakhs and Rs. 15 lakhs: 20% tax. Above Rs. 15 lakhs: 30% tax. It is important to note that if a taxpayer opts … Witryna1 dzień temu · Understanding the old and new tax regimes. The tax liability under the old tax regime was based on income slabs with a tax rate of 5% for income between 2.5 …
Answered: 10 FAQs About The New Income Tax Regime
WitrynaDeductions in New Tax Regime Under Union Budget 2024-24. There are 70 exemptions and deductions that were removed from the new income regime for individual taxpayers. The excluded exemptions include 80 C deductions up to Rs 1.5 lakh, medical insurance. Read more. Witryna2 lut 2024 · Income Tax Slabs 2024: These are the new income tax slabs under the new tax regime. 1. Up to Rs 3 lakh income there is 0% or NIL tax. 2. From Rs 3 lakh to Rs 6 lakh the tax rate is 5%. 3. From Rs 6 lakh to Rs 9 lakh the tax rate is 10%. 4. From Rs 9 lakh to Rs 12 lakh the tax rate is 15%. qyld analysis
Income Tax Filing: Salaried individuals should not delay selecting regime
Witryna10 kwi 2024 · At what level does the Old TR match New TR: If the eligible deductions are at Rs. 2,50,000 and above, then Old Tax Regime equals New Tax Regime 2.0 with … Witryna17 godz. temu · This article will outline some of the important amendments made by Finance act, 2024 which is applicable for F.Y. 2024-23 (A.Y. 2024-24) which we need to take care of while filing ITR of A.Y. 2024-24. ♦ DEDUCTION U/S 80CCH (AGNIPATH SCHEME) Applicable for- Individual who are enrolled in the Agnipath Scheme and … WitrynaA person who chooses the new tax regime for the fiscal years 2024–24 is entitled to a standard deduction of Rs 50,000. Pensioners with dependents who choose the new tax regime are qualified to ... qyld annual return